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Cyber Crooks Leave Traditional Bank Robbers in the Dust

Krebs on Security

March 9, 2010

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Organized cyber criminals stole more than $25 million from small to mid-sized businesses in brazen e-banking heists in the third quarter of 2009 alone, federal regulators said last week. In contrast, traditional stick-up artists hauled less than $9.5 million out of U.S. banks over that same time period.

Speaking at the RSA Security Conference in San Francisco last week, David Nelson, an examination specialist with the Federal Deposit Insurance Corp., said online banking attacks against small businesses netted thieves $25 million between July and September of 2009. The FBI's published bank crime statistics for that same time period show that traditional bank robbers committed a total of 1,184 bank robberies and netted slightly more than $9.4 million (including $3,071 in travelers checks).

From Krebs on Security
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